Mortgage Market Guide's recap of what happened this week and why.
The MBS market has stabilized and the Fed has done a wonderful job of "threading a needle," buying enough MBS to help get the market functioning correctly. Over the past few weeks, the Fed has pared down its MBS buying quite significantly. There is a limit to how high prices can go, yet at the same time the recent rout in oil has sparked deflationary fears which may persist for some time, limiting how far MBS prices can drop.
The unemployment rate for April is likely to be 18% or higher, and how quick and effective we are at opening pockets of the economy is the next thing on MMG's radar.
Find out more in this edition of the MMG Weekly Recap video:
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